Highlights:

  • Coro Cyber Security Ltd., a rapidly growing supplier of cybersecurity software for midsized enterprises, recently revealed a USD 75 million investment round.
  • The investment is referred to as a Series 2C round by the startup. Energy Impact Partners contributed the whole funding.

Coro Cyber Security Ltd., a rapidly growing supplier of cybersecurity software for midsized enterprises, recently revealed a USD 75 million investment round.

The investment is referred to as a Series 2C round by the startup. Energy Impact Partners contributed the whole funding. Coro is now worth USD 575 million, up from USD 500 million following its last investment round in April.

Coro sells a cybersecurity platform tailored to businesses with 500 to 4,000 employees. Because such companies typically have minimal in-house cybersecurity experience, they require breach prevention systems that are simple to use. According to the organization, its platform meets that need while lowering expenses.

Businesses frequently use separate technologies to safeguard staff devices, email inboxes, and cloud apps. Coro’s platform is capable of securing all three. The company claims that utilizing a single solution is less expensive than purchasing different tools for each use case.

Coro claims that its platform is also easier to use. Customers can access a centralized interface that displays outstanding cybersecurity issues and impacted systems. A feature known as 1-click resolve makes it possible to block malware and correct insecure configuration settings with just one click.

Guy Moskowitz, Chief Executive Officer, said, “Our modern approach to cybersecurity, where one platform automatically addresses all aspects of cybersecurity, was built from the ground up to ensure that mid-market companies can get enterprise grade protection without the complexity, workload or inflated price tag.”

Protecting data stored in software-as-a-service applications is one of the security tasks that Coro claims to simplify. The startup claims that its platform automatically disables the connection when malware is transmitted to an application. It also detects subtler indicators of a security compromise, such as data access requests that are not typical.

Coro provides a second set of email protection features for employee inboxes. It is capable of detecting malware attempts and blocking malicious attachments. According to the company, its algorithms also detect attempts to share sensitive business information without authorization.

The startup platform installs an agent that detects malware on employee devices using machine learning. The agent depicts how employees typically interact with a company’s business applications. The system then looks for malevolent behavior that deviates from the pattern.

Coro claims to have tripled sales in 2022 and anticipates repeating the feat this year, although it has yet to disclose exact figures. The venture will recruit additional personnel and investigate acquisition opportunities to support revenue expansion. It also intends to grow its channel partner ecosystem.